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tv   First Business  FOX  September 27, 2012 4:00am-4:30am PDT

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good morning. it's thursday, september 27th. i'm angela miles. in today's first look: across the board selling from wall street to lasalle street. the dow dropped for the 4th session in a row. gold and oil also sold off, with oil dipping below $90 during the session. a goldmine strike in south africa has halted output production by 39%. miners at anglo gold and other mines are demanding a pay that's above the country's inflation level. mark sebastian of option pit mentoring and consulting is with us on this thursday morning. and there's a fear factor that's back in the market, mark.
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> > well, if you want to call a vix over 16 a fear factor. that's still welld/or a goldman
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> > mark sebastian, have a good trading day. thank you. > > you too. violent anti-government demonstrations in both greece and spain caused a shake-up in the markets yesterday. stocks slid after violent footage between police and protestors put the euro crisis front and center for investors. however, michael iannaccone of mdi investments tells first business that the ripple effect on the market is likely temporary. "it's a continuing problem. until they come to a solution that seems viable, then that would be a positive to the market. so it is just a weight on the market, but the weight hasn't increased, so it's not going to pull the market down." spain releases its 2013 budget today. it's expected that the budget will include more government austerity measures. toyota is pushing back sales targets because of the eurozone debt crisis. the japanse automaker is lowering its car sales goal of 1 million down to 822,000 for the year in europe. however, toyota st paris motorss
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just getting under way. overall car sales in europe are expected to drop 5% this year. the nation's most-watched sport is turning into the most- watched debate. the call that ruled in favor of the seattle seahawks against the green bay packers on monday is still causing outrage. players, fans and critics are pressuring the nfl to bring back referees. the referees' association has been on lockout since the nfl season kicked off. according to the washington post, refs are being offered a 7% pay increase. however, the nfl wants to shift the group's retirement plans from a pension plan to a 401k. the group wants to stick with a traditional pension plan. so far, ratings have not been impacted by the fill-in referees. some predict that until the nfl starts to see an impact on its business, referees
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could remain locked out. pilots with american airlines are said to be open to talking to airline officials about their contract. contract talks came to a standstill over the summer. since then, it's estimated 436 flights have been canceled and more than 5,000 have been delayed. reports say the airline accuses pilots of calling in sick and submitting an extrodinary amount of maintenance work orders. the pilots deny it and blame the airline for laying off hundreds of maintenance workers. meanwhile, profits at airlines are taking off. collectively, profits rose for 9 of the nation's largest airlines in the second quarter. lower fuel costs and high passenger traffic were cited as the reasons. airlines spent 4% less on fuel. meanwhile, airlines raked in more baggage fees and reservation change fees. a u.s. lawmaker believes a secret military unit in iran is behind cyber-attacks hitting u.s. banks. disruptions to
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wells fargo's online banking operations happened tuesday. bank of america, citigroup and jpmorgan-chase have also been hit. reports say us bancorp and pnc financial services could be next. according to the l.a. times, senator joe lieberman, who chairs the senate homeland security committe, says iran is targeting the u.s. financial system in response to sanctions on the country because of its nuclear program. a top iranian official denies it. facebook claims nearly a billion active user accounts. twitter, about half that. in our cover story - with so many people using social networks to connect, find jobs and get the word out about products and events, how do you stand out in the crowd? everyone's competing for your attention. even at a seminar during social media week on how to use twitter more effectively, people were tweeting. so how do you get people's attention? "it's about being conversational, being fun and true to your brand voice."
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"more than anything else, build a following through 90% of talking about things connected to your brand. then, the 10% starts winning." what about job hunting? it's not enough to email a resume and cover letter, hoping you'll be contacted. "you're going to end up in a stack of resumes. so how do you differentiate yourself?" jordan ho, a digitial strategist, suggests using social media to research the company and even the individual doing the hiring may help you, but keep it professional. "if you comment on food they mentioned, you've started down a path that's a non- professional manager." however, social media has also made it easy for job applicants to become overly familiar with potential employers too quickly. "you don't want to be the uninvited guest. we're starting to see a 'creep out' factor beginning to go on." rand, who runs a marketing agency that specializes in social media, suggests that job applicants use social media as
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a window to the people they're meeting. and be aware emplo
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do not understand their phone
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bill, despite the federal government rule that all phone bills must be understandable. > > unbelievable. all right, well, get mad, but get smart too. read this book. david cay johnston, thank you so much for enlightning us on this little important detail. > > thank you bill. coming up, september was a box office bust for hollywood. how about the year at large? we'll talk about that with our resident film critic in just a moment.
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september is turning into a sluggish month at the box office. erik childress, our
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movie guy, joins us now. erik, what's happening here? are there just no good movies to go out and see? > > that's pretty much it. we really don't have any sort of weather to blame this on or any kind of events to really point a finger at. it's just a matter of, we've got plenty of movies that opened, just not a lot that have really inspired anyone to take the leap to go out into theaters. there just haven't really been a lot of really good movies that have come out. really few at all. > > no blockbusters. > > certainly not. > > here's what happened at the box office last weekend. it was a tight horse race between the top three: "end of watch," "house at the end of the street," and "trouble with the curve" all coming in within about $1 million of each other. > > yeah. "end of watch" is definitely the best movie of that bunch, so i'm glad that that ended up on top. > > what about "finding nemo?" did that been your
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expectations? > > we kind of talked about these 3-d re-releases before, and that they all kind of have a ceiling now between like $40 and $60 million, which is certainly not bad if you just want to boost the potential of your box office record with that title. "finding nemo" has made a little over $30 million so far. it could get to $50. we'll see. > > "resident evil" also made the top 5 list. now moving on to movies coming out this weekend, do you hold any hope for a blockbuster here? > > there's potential that "hotel transylvania," which is an adam sandler-based kids' movie. animated film. we were just talking about "finding nemo." there's not a lot of family stuff out there in the marketplace. it might inspire some families to take their kids out this weekend. the best movie of the weekend is a film called "looper," the science fiction film that just played toronto that i just got back from. it's a really wonderful film with joseph gordon-levitt and bruce willis. i really hope people take a chance on it, 'cause it's a lot of fun, a lot of great action, and a lot of great ideas, which we don't have in movies these days. > > i have to tell you, i am very much enjoying the movie trailer to "won't back down." > > it kind of looks like an oscar contender doesn't it? just the way it's got viola davis, maggie gyllenhaal-
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> > two good actresses. > > yeah, but, you know, fox is not, they didn't really put this movie in the film festivals, so they're just kind of quietly releasing it here at the end of september. it has the look and feel of an oscar contender, but i really don't hold a whole lot of hope out for it. > > so september just kind of a month ... > > something we can write off. there's going to be some better stuff next month we can talk about. > > we will see you next month. that's erik childress, he is vice-president of the chicago film critics' association, joins us every thursday. thanks erik. > > thank you. coming up, find out if radioshack stock is sending bad signals to investors. chart talk is next.
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matt cavanaugh of cmz trading joins us now for chart talk. good morning matt. > > good morning. > > the other shoe has fallen in radioshack's world. the ceo is leaving the electronics
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company. is there any hope left for this stock? > > you saw a little bounce off of this news, but things aren't going well for radioshack. they suspended their dividend. they're in a really competitive business. they don't really have a clear direction. if you look at the credit default swaps, the cost to insure their debt, it's very expensive, saying that some people think they might not continue to be an ongoing concern. until i see a ceo that maybe has a clear defined path for this company, i really wouldn't jump into this stock. > > plus you have best buy, for instance, struggling along. these brick-and-mortar electronics stores are having a very difficult time against on- line companies. > > absolutely. it's a really competitive business, and you really have to have your niche to find and know what you're going for. i don't see that with them, and their stock price of their earnings have reflected it. > > let's move on to a prettier stock: ulta salon. who knew? this stock has a return of 40% this year. what's going right at this company? > > i tell you what, what a great store and a great concept. they kind of brought all things beauty under one
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roof. over 20,000 products, multiple price points - the expensive stuff, the cheap stuff. great growth story this company has really been. > > is the stock too pricey at current levels? > > you know, i think so. it's got over a 40 times price-to- earnings ratio. a lot of things need to go really right for this store, and everything up to this point has gone right. so really, it's priced for perfection. they're opening a lot of new stores. good things are happening. but i worry, is there's a recession? if there's a slowdown, if there's any bump in the road - this is a discretionary product - you know, what's going to happen to this company? so i would like to see the stock come down a little bit, hold the $90 to $92 level if the market continues to sell off, and then maybe think about jumping in. > > you know, sometimes these beauty and cosmetic companies do well in times of recession. they say woman where more lipstick, get a rich husband. it's been said. i'm not saying
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that. > > is it true? > > i'm just saying. i'm just saying, matt... good to have you on the show. come back soon. matt cavanaugh of cmz trading. have a good trading day. > > thank you. that's a wrap for today. coming up tomorrow, traders unplugged! don't miss the action as our traders get real about the market and more. from all of us at first business, thanks for watching and have a great thursday!
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. the wild police chase through the streets of san francisco that injured two innocent bystanders, including a child, and the refs will make a return to the field, it is all ahead on the ktvu channel 2 morning news. complete bay area news coverage starts right now. this is ktvu channel 2 morning news. good morning, thank you for joining us this morning september 27th, steve paulson is with us, what is going on? it is leading up to what
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could be and should be a warmup over the next couple of days but by the coast we are dealing with a lost clouds and fog but it is 90 degrees. here is sal. we are going to take a look at live pictures and traffic is doing well and also on the 580 interchange. that traffic looks good on the high-rise, let's go to pam. an occupied camp at the federal reserve bank, christian captain is there now as city crews took a fence to block them. >> reporter: for the first time the streets around the federal reserve are unoccupied and you can see those crowds are
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replaced by a fence. this is a new development, you can see some of the occupied protesters are starting to trickle back and return to this site and as we look further to our left, you can actually see there is a strong police presence here in san francisco. police moved in around 11:30 just as the encampment was settling down for the evening. they issued a final order for two dozen protes
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